Today, eBay is considered to be one of the most lucrative
auction sites available in the Internet.
However, selling on eBay is not that easy, and the very first
thing a seller should do is to find the ways on how he or she
will get paid once the item is sold. And so, here are the
different ways how a seller can be paid:
1. PayPal
PayPal is the most common and convenient way of sending and
receiving money based on an eBay transaction. Here, the payment
for the sold item is sent directly to the seller by means of an
established bank account or a credit card.
2. Personal Check or Cashier's Check
Sellers may choose this kind of option. However, the drawback of
using this kind of payment method is that the seller still has
to wait for a number of banking days before the check gets
cleared.
3. Credit Cards
Sellers must have a merchant account to be able to accept
payments from its buyers through credit cards. This is
applicable only if the buyer will be paying directly to the
seller. If the buyer still wants to use credit card but wants a
safer transaction, he or she may opt to pay the seller through
PayPal with the use of the credit card.
4. Bank to bank wire transfers
In this type of payment, the seller can be paid through a
bank-to-bank transaction. Here, the buyer will transfer funds
from his or her bank account to the seller's bank account.
5. Money Orders/Bid pay
This is one of the recommended payment methods of eBay. This is
considered safe because the seller or the buyer can track down
the mailing address of the concerned person.
6. Escrow
This is strongly suggested for high-priced item transactions.
The escrow service guarantees full protection while the
transaction is not yet closed. Through this service, the seller
has to wait for the confirmation that the buyer had received the
product before receiving payment.
However, sellers and buyers should take extra precautions on
dealing with escrow services. There are a lot of counterfeit
escrow services lurking on eBay these days. It's best to check
if the escrow service was approved by eBay.
8. Cash
Sellers on eBay may receive payments through cash. However, this
is a high-risk activity and offers no guaranteed protection.
8. Instant Cash Wire Transfers like western Union and Money Grams
Sellers may opt for this type of payment method. But, they
should keep in mind eBay is strongly against this mode of
payment and that insisting this to the buyer may result to
suspension or termination of account.
About the author:
Jay is the web owner of
http://www.the-lowest-prices.com Online Shoppping, a
website that provides information and resources on online
shopping malls and discounts. You can visit his website at:
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